PUTRAJAYA, Jan 16 (Bernama) -- Malaysia's realised private investments last year are expected to surpass the targeted RM83 billion, International Trade and Industry Minister Datuk Seri Mustapa Mohamed said.
Based on current information, the amount would probably exceed RM90 billion, he told reporters after chairing the National Investment Committee meeting.
Between January and September last year, the worth of realised investments stood at RM75 billion, he said.
For this year, Mustapa said Malaysia would be able to cushion the impact despite the challenging global economic landscape.
The minister said the government has put in place measures to stimulate domestic economic activities, in particular high-quality investments, and creating a conducive environment to promote private investments.
"Higher priority will be given to boost domestic investments and services sectors," he said, adding that additional liberalisation measures would be undertaken in the services sector as the country intensify efforts to woo more foreign direct investments.
Mustapa also said proposed higher salaries for civil servants under the Public Service New Remuneration Scheme and creation of more jobs would spur domestic consumption.
He said buoyant commodity prices and bullish oil and gas sector, which performed well last year, are expected to sustain its performance this year.
The Malaysian Investment Development Authority has lined up 138 investment promotion missions abroad this year and "it's very important for us to stay focused."
"All promotional activities would apply consistent and common message as well as improve coordination among the agencies involved. At federal level, we will be very clear of what's happening," he added.
-- BERNAMA
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